Outrigger Industrial Secures $96.9M Refinancing for Generation Park Project Near Houston
Outrigger Industrial, the sponsor and manager of Centris Industrial, has secured $96.9 million in refinancing for its Generation Park I & II development, located north of Houston. The project features two industrial buildings totaling 1.28 million square feet.
The refinancing replaces an existing construction loan and provides the benefit of longer terms and more favorable interest rates. The loan was provided by Barings, further expanding its real estate debt platform, which now totals nearly $24 billion.
Advising on the financing were Steve Roth and Bill Jurjovec of CBRE.
Outrigger Industrial is a joint venture partnership made up of the co-owners and managing members of PTLR, LLC—Podboy, Trinkle, Lu, and Rowley—as well as investment firms Davidson Kempner Capital Management and Monarch Alternative Capital.
